This year, amid complex and challenging external conditions, the foreign trade of Jingjiang, Jiangsu province, has shown stronger resilience and competitiveness with the support of diversified market development.
From the first ten months, the city's total import and export trade value recorded a new high in the same period, reaching 46.37 billion yuan ($6.59 billion), a year-on-year increase of 3.93 percent.
The city's modern industries are trending toward smart manufacturing, helping stabilize foreign trade. In particular, exports of high-tech marine vessels and their supporting products, the backbone of foreign trade, have maintained strong momentum this year.
Two ultra large oil tankers made by local manufacturer New Times Shipbuilding conduct trial voyage. [Photo/WeChat account: jingjiangfabu]
The development momentum of top enterprises has also been strong. Data shows that among the top 10 enterprises in the city in terms of imports and exports, seven have achieved positive growth, while six have maintained double-digit growth.
For market, the Belt and Road Initiative has brought about the diversification of trade partners. Jingjiang delicacies, such as pork jerky, stewed products and biscuits, have been exported to Kazakhstan, New Zealand and other countries involved in the BRI, becoming a highlight of foreign trade this year.
Strong policies have continued to bring benefits to local businesses. From January to November, Jingjiang Customs issued 3,257 certificates of origin, with a total value of $206 million, exceeding last year's total amount. Relevant enterprises can secure tariff reductions of around $10 million from importing countries by using the certificates.